In this article, we will discuss billionaire Ken Fisher’s 5 favorite tech stocks. If you want to read our comprehensive analysis about Fisher’s history, investment philosophy, and hedge fund performance, you can go directly to Billionaire Ken Fisher’s 10 Favorite Tech Stocks.
5. Salesforce.com, inc. (NYSE:CRM)
Salesforce is proving to be a money-loser for Ken Fisher in 2022. The stock is down 45% in the past 6 months. Ken Fisher’s hedge fund has a hefty $3.23 billion stake in the CRM company as of the end of the first quarter of 2022. But analysts think Salesforce could be a good investment for the long term. Recently, Jefferies analyst Brent Thill, while lowering Salesforce’s price target to $330 from $360, noted that Salesforce is a “great long-term buy” because of its ability to support high-teens percentage growth and its “opportunity to” drive margin leverage. The analyst has a Buy rating on the shares.
4. Alphabet Inc. (NASDAQ:GOOG)
Ken Fisher has been adding to his position in GOOG since 2017, ending the first quarter of 2022 with over 2 million shares of the company, worth $5.6 billion. Google shares have gained close to 150% in the last 5 years. It is one of the most popular stocks among hedge funds, with 158 funds holding stakes in the company as of the end of last year. Recently, Guggenheim analyst Michael Morris lowered GOOG price target to $3,000 from $3,350 but kept a Buy rating on the shares.
Baron Funds, an asset management firm, published its “Baron Global Advantage Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Here is what the fund said:
“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”
3. Amazon.com, Inc. (NASDAQ:AMZN)
Ken Fisher’s hedge fund upped its stake in Amazon by 10% in the first quarter of 2022, ending the period with 2.4 million shares of the company, worth $7.7 billion. Wedbush recently removed Amazon from its Best Ideas List due to its investment price discipline. The firm’s analyst Michael Pachter has a $3500 price target on Amazon stock.
Amazon is the most popular stock among the 924 hedge funds tracked by Insider Monkey. As of the end of the fourth quarter of 2021, 279 funds had stakes in the ecommerce and Cloud giant. The total value of these stakes was $49 billion.
2. Apple Inc. (NASDAQ:AAPL)
Despite Apple being under pressure amid a broader lull in the technology sector this year, the stock remains the biggest holding of Ken Fisher’s portfolio as of the end of the first quarter. Fisher has an $11.2 billion stake in Apple. The stock is down 14% year to date. Morgan Stanley analyst Katy Huberty recently said in a report that Apple’s App Store net revenue growth jumped to 8% on a year-over-year basis. The analyst based her projections on data from Sensor Tower. Huberty has a $195 price target on Apple stock.
Elite hedge funds were clearly bullish on Apple as of the end of last year. Insider Monkey’s database of 924 hedge funds show that 134 funds had stakes in Apple, compared to 120 in the previous quarter.
1. Microsoft Corporation (NASDAQ:MSFT)
Since the last quarter of 2017, Ken Fisher’s fund has been consistently buying Microsoft shares. As of the end of the fourth quarter, MSFT accounts for over 5% of Fisher’s total portfolio as the fund owns an $8.6 billion stake in the company. Wedbush analyst Dan Ives recently counted Microsoft among his top tech stock picks as he believes Fed chair Jerome Powell’s recent announcements lay a clear path for the future that should calm investors’ nerves and end harsh times for tech stocks.
You can also take a look at 10 Best Tech Stocks To Buy Now According To Billionaire Laffont and 10 Best Stocks To Buy Now According To Quant Billionaires.
